Flutterwave offers numerous benefits to businesses, and along with these benefits comes the potential for generating revenue.
Flutterwave is a great way to earn a steady income online, but you must be familiar with how it works before utilizing this opportunity.
The FinTech company, Flutterwave was founded in 2016 by Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Adekoya and is headquartered in San Francisco, California with operations in Nigeria, Kenya, Ghana, South Africa , and seven other African countries.
In 2021, Flutterwave raised a US$170 million Series C funding round. At the time, this was the largest amount ever secured by an African tech startup and gave it a valuation of over US$1 billion, making Flutterwave a unicorn.
Investors in Flutterwave include Y-Combinator, Visa Ventures, Mastercard, Avenir Growth Capital, and Tiger Global Management. Also in 2022, Flutterwave raised a US$250 million Series D funding round at over US$3 billion valuation.
Flutterwave has four different ways of earning money, including how to get started. We have explained each one in this article.
How Does Flutterwave Works?
Flutterwave makes it possible for anyone to accept payments or money via credit or debit cards, bank transfers, USSD, and POS.
You may also use Flutterwave to conduct online payments by creating virtual dollar cards.
Flutterwave charges 2.9 per cent of every transaction for domestic transactions. NGN2000 is the maximum fee that can be charged for each transaction.
Also, Flutterwave imposes a fee of 3.8 per cent for international transactions. Flutterwave is cheaper than Paystack for international transactions, but Paystack is cheaper for domestic transactions. Check out Paystack vs Flutterwave to read more
Best Ways To Make Money With Flutterwave In 2022
1. Affiliate Marketing
One of the best ways to make money with Flutterwave is through affiliate marketing. It helps you earn money from your referrals based on commission.
Your only job is to recommend these Flutterwave services to potential users with a traceable affiliate code. When any of these users activate and make transactions, you earn commissions while sitting at home.
Isn’t that cool? You keep earning income even while you sleep.
Follow these steps to earn money with Affiliate Marketing:
- Sign up or Log in to your account.
- On the overview section click on “referrals”.
- Then click on “copy your referral link”.
- Send this link to all business owners you know.
2. Creating a Store for Your Freelance or e-Commerce Business
This is another good way to make money with flutterwave. Flutterwave store is an easy way to own and manage your e-Commerce business.
It provides you with the benefits of having an online business store without creating a website. In essence, you can make more sales.
Consider this scenario: Say you are able to acquire a maximum of 50 new customers monthly through your physical store or personal social media posts.
By creating a store on flutterwave, you can reach more customers beyond your contact list and visibility.
Hence, creating a flutterwave store gives you access to the global market. Even more, it brings businesses online with minimal hassle.
Create a store on Flutterwave with these easy steps:
- Sign in to your dashboard and select “Store”.
- On the store page, click “setup my store”.
- Edit the store name to a name you want to use.
- Enter your “store description” and “URL” if necessary.
- Click complete “Set up” and your store link will be generated and displayed on the dashboard. (You can share this link with your prospective customers and also add it to your social media pages).
- Next, add your products by clicking “Add products”.
- Fill in the details of your new products. Your product will immediately be displayed on the dashboard.
What is Flutterwave Store?
Flutterwave Store is simply the best and easiest way to launch and manage an e-commerce business that accepts payments from anywhere in the world without creating a website.
With Flutterwave Store, you can easily upload products, set prices, and (in some markets) have their integrated delivery partners pick up when you have an order and deliver to your customer.
3. Flutterwave as Your Mobile POS
Currently, people in Africa, especially Nigeria are making money with the POS business. Although the business is rampant so getting a physical POS might be a little difficult. But with flutterwave, you can have a mobile POS.
The flutterwave mobile performs the function of a cash register and physical POS machine. That is, you can accept payments from your customers, issue receipts, and also keep sales records.
In summary, flutterwave mobile turns your mobile phone into your personal POS, online store, and general mobile business headquarter.
Use Flutterwave as a mobile POS with these steps below:
- Download the app from Play or Apple Store.
- Sign in by filling in your details.
- Proceed to the home page section and select “POS”.
- Select how to want to receive payment. E.g USSD, debit card, and others.
- If you selected “Debit/Credit Card”, Scan the “QR code” provided.
4. Using Flutterwave to Receive Payments
Flutterwave provides you with an easy way to receive payments from anywhere in the world with card payments, bank accounts, USSD, and more.
You don’t need to worry about losing any sales because of a payment issue. With the flutterwave payment link, you have the opportunity to increase your business income.
Follow the steps below:
- In your Flutterwave dashboard, go to the Payment Links page and select “Create Payment Link”.
- For a single payment, select “Single Charge” while for a payment plan select “Recurring Charge”.
- Fill in details of the payment; if you wish to allow your customers to specify the amount to be paid, leave the “Amount field” empty, otherwise, fill in a specific amount.
- Then, select “Create Link” to create the link to your payment page.
ALSO READ: 20 Top American Companies In Nigeria 2022
While the move to selling and shopping online was accelerated by the pandemic, it has now changed consumer behaviour as shoppers are more than happy to stay home and complete their purchase online.
Would you like to benefit from these flutterwave benefits and make more money for your business? Join flutterwave today and get started.